bp South Africa has made new investments in infrastructure development, local content empowerment, and decarbonization initiatives as part of a broader strategy to increase fuel distribution and accessibility.
BP South Africa, a subsidiary of the multinational energy corporation BP, announce its return as a platinum sponsor at the African Energy Week (AEW): Invest in African Energy conference, which will be held from November 4 to 8 in Cape Town. This participation underscores BP's unwavering commitment to collaborating with industry stakeholders and regional counterparts to achieve the shared objective of eradicating energy poverty.
In the recent past, bp South Africa has made new investments in infrastructure development, local content empowerment, and decarbonization initiatives as part of a broader strategy to increase fuel distribution and accessibility. As Africa works to maximize the development and utilization of its oil and gas resources to meet industrialization goals, it becomes essential to strengthen partnerships with dedicated investors like bp South Africa..AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
With over a century of experience, bp South Africa has been a prominent player in the fuel industry, making significant investments in the importation, refining, and distribution of fuel and related products throughout the country.
In June 2023, the company unveiled a substantial five-year investment package valued at $1 billion to bolster its operations within South Africa. This strategic move encompasses the modernization of the SAPREF refinery in Durban, where the company holds a 50% ownership stake. The primary objective of this initiative is to transform the refinery's capabilities, enabling it to produce low sulfur diesel that aligns with the company's newly established low carbon energy specifications, thereby promoting environmental sustainability. Furthermore, bp South Africa assumes the responsibility of managing the Single Buoy Loading and Offloading Mooring facility, handling a significant 85% of South Africa's crude oil imports. Additionally, bp South Africa is actively channeling substantial investments into the enhancement of South Africa's port and storage infrastructure, with the company operating six strategically located fuel storage terminals within the country.
Moving forward, the organization is improving fuel distribution to satisfy the increasing demand for petroleum products by expanding its retail operations in South Africa. The organization has over 500 branded service stations across South Africa. bp South Africa is also transforming the country's workforce through investments in local empowerment initiatives. In August 2023, the organization invested R58 million to stimulate black-owned businesses with a goal of having 70% of its service stations operated by black dealers by 2025.
Under the theme, Energy Growth through an Enabling Environment, AEW: Invest in African Energy will feature bp South Africa in high-level panel discussions and exclusive networking sessions, spotlighting the company’s investment endeavours, steadfast commitment and strategic vision to propel Africa’s energy industry forward.
“To make energy poverty history by 2030, Africa needs new investment in refining and distribution. bp South Africa is making great strides in this area under efforts to accelerate industrialization and fuel access in South Africa,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.
AEW: Invest in African Energy serves as the largest event of its kind in Africa. Uniting African presidents, government, and national companies with global investors, project developers and technology providers, the event drives investment across the entire value chain. This year’s edition takes place in Cape Town. Visit www.AECWeek.com for more information.
.jpeg)
0 comments:
Post a Comment